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A paid-for iPad edition of the Daily Mail could be available by Christmas according to the newspaper’s parent company, which is pumping millions of pounds of extra investment into digital journalism.

The Daily Mail and General Trust yesterday announced a 10 per cent surge in annual pre-tax profits to £255 million, aided by a modest recovery in advertising at its flagship national newspapers. The figures sent the company’s shares soaring by 10.4 per cent to 523p.

Encouraged by high international readership of the Daily Mail’s website, the company is expanding its New York and Los Angeles bureaux in a